Fine Framings, a Small Framing Shop, Uses Markup Pricing to Arrive

Multiple Choice

Fine Framings, a small framing shop, uses markup pricing to arrive at a final selling price. The firm sells its frames at a price of $25, given a $15 unit cost. Fine Framings' markup on the selling price is _____, and its markup on cost is _____.

A) 66 2/3 percent; 40 percent
B) 40 percent; 66 2/3 percent
C) 167 percent; 67 percent
D) 250 percent; 100 percent